Understanding When To Hire An Indianapolis Bankruptcy Attorney

Description

Bankruptcy lawyer can help the individual who are struggling with debts.

The
procedure of Bankruptcy allows the individual to eliminate a portion or
all of his debts. Filing this case can give protection immediately
under the bankruptcy laws & prohibits the creditor from taking
further collection against the individual. Once the case has been filed
and the individual has received the discharge, he will be no longer
obligated to repay the debts. Bankruptcy is a big, emotional and a
daunting task. Whether it was due to unemployment, health issues or bad
judgment that has put the individual into a dire financial predicament,
making the choice to file the case can be very stressful.

What is the role of the lawyer?

At
the initial consultation, the lawyer will have an opportunity to assess
the financial situation and understand the financial goals of the
individual. Once the case has been evaluated the lawyer will discuss
different debt relief options that are available to the individual. They
will determine if filing the case is the right choice for which chapter
is appropriate. Fees & payment plans are discussed during the
initial consultation. After hiring the lawyer, they accept collection
calls on behalf of the individual. Although the creditor is allowed
legally to contact the individual until the case has been filed, they
stop calling once it has been confirmed the lawyer has been hired. The
lion share of work that the lawyer does on the case is the preparation,
typing & filing of the petition. The petition is an exhaustive form
that is filed with the court. Depending on the number of creditors, the
forms can be as long as 40 to 60 pages. The lawyer will ensure that the
individual will have an opportunity to review the petition before the
case has been filed with the court to ensure all the assets &
creditors are listed and there are no mistakes. The individual will file
the finalized & signed petition with the court. Once the documents
are filed, the individual will be under the protection of automatic stay
& all collection activities by the creditors will stop.

How often to file the case?

Once the case has been filed through the bankruptcy attorney in Indianapolis,
the individual cannot receive the discharge in either (a ) Chapter 7
bankruptcy filed within the last eight years and (b) chapter 13
bankruptcy filed within the last six years.